Saudi Prince Alwaleed bin Talal is among the investors poised to see a sharp increase in wealth from SpaceX’s planned initial public offering, Bloomberg reported Wednesday.
The contrast with where both men stood a decade and a half ago is stark. When Alwaleed took a stake in Twitter in 2011, he was worth roughly $20 billion and counted among the world’s most prominent dealmakers, with positions in Apple and News Corp among his best-known bets. Elon Musk, at that point, had not yet entered the billionaire ranks, the report said.
SpaceX filed last month for what would be a record IPO, targeting a $75 billion valuation. The listing, if completed, would crystallise gains for early and long-standing backers of the aerospace company, with Alwaleed’s Kingdom Holding among those set to benefit, according to Bloomberg.
The arc of the two men’s fortunes since 2011 captures something about how wealth has shifted in the intervening years, from established Gulf capital toward the technology and space economy that Musk built.
